FDI in Ho Chi Minh City doubles

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The flow of foreign direct investment (FDI) into Ho Chi Minh City so far this year has reached 2.5 billion USD, up 2.3 times from the same period last year, according to the Municipal People’s Committee.

The city has licensed 284 new projects with a total investment of 2.02 billion USD, respectively an increase of 35.2 percent and 210 percent this year.

An additional 456.5 million USD was injected into 89 ongoing projects, an annual increase of 410 percent in capital and 48.3 percent in the number of projects.

The bulk of the expenditure is in the real estate sector, with investments in four projects worth 1.31 billion USD, followed by industrial projects at 491.9 million USD and trade projects totaling 112.5 million USD, among other ventures.

The UK is currently the biggest investor in the city with five projects worth 1.2 billion USD, accounting for 59.2 percent of the newly registered capital.

The British Virgin Islands trail the UK with 7 projects worth 306.5 million USD or 15.1 percent, followed by the Republic of Korea with 61 projects worth 210.5 million USD and Singapore with 47 projects valued at 100.8 million USD.

Meanwhile, as many as 19 projects worth 69.7 million USD were dissolved or halted in the review period.